Albany Academy FY2023 filing

Tax-deductible

Albany, NY501(c)(3)Since 1813EIN 14-1338579Revenue $19.9M in FY2023

On file with the IRSalbanyacademies.org135 Academy Rd, 12208-3105 · Albany, NYTax-exempt since Jul 1945Governmental unit — 170(b)(1)(A)(v)

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1. To operate and maintain an early childhood co-education program forchildren three and four years of age.2. To operate and maintain an early childhood education program forgirls four and five years of age, a kindergarten for five-year oldgirls, a grade one through four primary school for girls and a gradefive through 8 middle school for girls and, when deemed fitting,co-educational courses and programs.3. To operate and maintain an early childhood education program forboys four and five years of age, a kindergarten for five-year old boys,a grade one through four primary school for boys and a grade fivethrough 8 middle school for boys and, when deemed fitting,co-educational courses and programs.4. To operate and maintain a grade nine through twelve secondary schoolwith both single-gender and co-educational programs.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$706K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $1.0M a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$706K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
14
named funders · $1.0M
Looks good: 14 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$9.0M
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 22 voting members
Looks good: 22 of 22 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$19.9M
-6% vs prior year
Spent
$22.3M
To programs
82%
Net assets
$44.7M
By yearFY2020–FY2025
Revenue
$19.9M
FY2023▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$22.8M
FY2021$27.2M
FY2022$21.2M
FY2023$19.9M
FY2024$21.1M
FY2025$23.4M
Expenses
$22.3M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$19.9M
FY2021$19.8M
FY2022$21.7M
FY2023$22.3M
FY2024$23.2M
FY2025$22.5M
Net assets
$44.7M
FY2023▲ +0.7%
Tap a bar for its year
Net assets by fiscal year
FY2020$44.5M
FY2021$50.1M
FY2022$44.4M
FY2023$44.7M
FY2024$46.3M
FY2025$50.0M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $18.3M Management & general 14% · $3.2M Fundraising 4% · $804K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $706K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$217,928Pt VII · Sec A
Director of Institutional
$146,989Pt VII · Sec A
$127,441Pt VII · Sec A
Human Resources Director
$112,773Pt VII · Sec A
Controller
$100,537Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Christopher Lauricella$230,449$222,784$217,928$237,797$223,087$228,326
Ann Wendth—$108,620$146,989$143,739$141,435$137,742
Christine Vaughan$142,115—————
Vivian Benton$137,079$132,016$127,441$67,783——
Pamela Macaffer———$76,170$123,643$130,283
M Scott Milliken———$127,492$126,746$123,510
David Lester——$112,773$118,992$116,491—
Donna Jo Ruggiero—————$118,680

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates children from preschool through middle school, with co-educational options.

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Provided by the organization

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1 program · $18.3M · in their own filed words · FY2022
01

To operate a school, prekindergarten through grade 12. Approximately 695 students served.

$18.3Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 14 funders →
Grants paid · 6 grants · $23.3M · 2019–2024
Unitemized GrantFY2024$3,377,137
Unitemized GrantFY2023$3,588,819
Unitemized GrantFY2022$3,790,746
Unitemized GrantFY2021$4,137,433
Unitemized GrantFY2020$4,273,270
Unitemized GrantFY2019$4,083,588

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$19.9M
Ln 12
Fees for servicesLn 2g$16.9M
Gifts and grantsLn 1h$2.4M
Investment incomeLn 3$338K
Money outPt IX
$22.3M
Ln 25
Programscol B$18.3M
Managementcol C$3.2M
Fundraisingcol D$804K
Owns and owesPt X
$44.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.6M
Total assetsLn 16$53.7M
LiabilitiesLn 26$9.0M
PeoplePt VI, VII
26
listed · VII A
PaidVII A5
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$1.1M
Noncash giftsLn 1g$8K
Fees for servicesLn 2g$16.9M
Investment incomeLn 3$338K
Other incomeLn 4–11$233K
Gains on assetsLn 7−$280K
Total revenueLn 12$19.9M
Assets in detailPt X, end of year
CashLn 1$4.2M
SavingsLn 2$397K
Cash and savings togetherLn 1–2$4.6M
InvestmentsLn 11–13$23.6M
Land, buildings, equipmentLn 10c$14.8M
Other assetsLn 15$9.5M
Total assetsLn 16$53.7M
LiabilitiesLn 26$9.0M
Net assetsLn 32$44.7M
OperationsPt I, VI
EmployeesI 5305
VolunteersI 6250
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$3.9M$4.6M
InvestmentsLn 11–13$24.8M$23.6M
Land, buildings, equipmentLn 10c$15.2M$14.8M
Total assetsLn 16$53.0M$53.7M
LiabilitiesLn 26$8.6M$9.0M
Net assetsLn 32$44.4M$44.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.8M$3.8M
Pay of current officers, directors and key staffLn 5$622K$95K$382K$145K
Other salaries and wagesLn 7$9.4M$8.0M$1.1M$303K
Pension plan contributionsLn 8$297K$241K$43K$13K
Other employee benefitsLn 9$817K$663K$117K$37K
Payroll taxesLn 10$727K$591K$104K$33K
Investment management feesLn 11f$65K$65K
Advertising and promotionLn 12$77K$120$77K
Office expensesLn 13$86K$12K$36K$37K
Information technologyLn 14$216K$53K$164K
OccupancyLn 16$473K$473K
TravelLn 17$22K$12K$1K$9K
InterestLn 20$254K$254K
Depreciation, depletion and amortizationLn 22$1.0M$1.0M
InsuranceLn 23$286K$286K
Other expenses (24a–d)Ln 24$2.9M$2.0M$757K$190K
All other expensesLn 24e$1.3M$858K$378K$37K
Total functional expensesLn 25$22.3M$18.3M$3.2M$804K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $23.4M$22.5M$895K$50.0M 990 PDF
FY2024 $21.1M$23.2M−$2.1M$46.3M 990 PDF
FY2023 Viewing $19.9M$22.3M−$2.4M$44.7M 990 PDF
FY2022 $21.2M$21.7M−$502K$44.4M 990 PDF
FY2021 $27.2M$19.8M$7.3M$50.1M 990 PDF
FY2020 $22.8M$19.9M$3.0M$44.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $19,906,511 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,850,240$2,409,852
I-9 Program service revenuePrior year $16,824,134$16,925,622
I-10 Investment incomePrior year $1,385,533$338,440
I-11 Other revenuePrior year $124,909$232,597
I-12 Total revenuePrior year $21,184,816$19,906,511
I-13 Grants and similar amounts paidPrior year $4,137,433$3,790,746
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $11,592,031$11,850,649
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,957,603$6,667,143
I-18 Total expensesPrior year $21,687,067$22,308,538
I-19 Revenue less expensesPrior year −$502,251−$2,402,027
Part VI · Governance 22 of 22 board members independent, 1 to look at
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $19,906,511 across 9 lines filed
VIII-1e Government grants$1,076,761
VIII-1f All other contributions, gifts and grants$1,333,091
VIII-1g Noncash contributions (included above)$7,748
VIII-1h Total contributions, gifts and grants$2,409,852
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,181,619 · Unrelated business $744,003$16,925,622
VIII-3 Investment incomeExcluded from tax $618,457$618,457
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$280,017−$280,017
VIII-8 Net income from fundraising eventsExcluded from tax $232,597$232,597
VIII-12 Total revenueRelated to mission $16,181,619 · Unrelated business $744,003 · Excluded from tax $571,037$19,906,511
Part IX · Statement of functional expenses $22,308,538 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $3,790,746$3,790,746
IX-5 Pay of current officers, directors and key staffPrograms $95,467 · Management $381,953 · Fundraising $144,675$622,095
IX-7 Other salaries and wagesPrograms $8,031,719 · Management $1,053,072 · Fundraising $302,793$9,387,584
IX-8 Pension plan contributionsPrograms $240,870 · Management $42,531 · Fundraising $13,262$296,663
IX-9 Other employee benefitsPrograms $663,370 · Management $117,132 · Fundraising $36,524$817,026
IX-10 Payroll taxesPrograms $590,503 · Management $104,266 · Fundraising $32,512$727,281
IX-11f Investment management feesManagement $64,536$64,536
IX-12 Advertising and promotionPrograms $120 · Management $77,085$77,205
IX-13 Office expensesPrograms $12,179 · Management $36,032 · Fundraising $37,491$85,702
IX-14 Information technologyPrograms $52,978 · Management $163,503$216,481
IX-16 OccupancyPrograms $473,322$473,322
IX-17 TravelPrograms $12,407 · Management $1,046 · Fundraising $9,040$22,493
IX-20 InterestPrograms $254,329$254,329
IX-22 Depreciation, depletion and amortizationPrograms $1,010,820$1,010,820
IX-23 InsurancePrograms $285,637$285,637
IX-24 Other expenses (24a–d)Programs $1,955,991 · Management $757,057 · Fundraising $190,072$2,903,120
IX-24e All other expensesPrograms $858,290 · Management $377,933 · Fundraising $37,275$1,273,498
IX-25 Total functional expensesPrograms $18,328,748 · Management $3,176,146 · Fundraising $803,644$22,308,538
Part X · Balance sheet $53,692,609 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $3,403,543$4,179,268
X-2 Savings and temporary cash investmentsStart of year $492,458$396,803
X-3 Pledges and grants receivableStart of year $335,887$191,536
X-4 Accounts receivable$1,076,761
X-10c Land, buildings and equipment, netStart of year $15,184,180$14,758,940
X-11 Publicly traded securitiesStart of year $24,758,237$23,582,420
X-15 Other assetsStart of year $8,798,864$9,506,881
X-16 Total assetsStart of year $52,973,169$53,692,609
X-17 Accounts payable and accrued expensesStart of year $1,402,172$1,537,710
X-19 Deferred revenueStart of year $535,170$484,499
X-25 Other liabilitiesStart of year $319,639$294,660
X-26 Total liabilitiesStart of year $8,609,680$9,001,632
X-27 Net assets without donor restrictionsStart of year $15,824,752$14,553,697
X-28 Net assets with donor restrictionsStart of year $28,538,737$30,137,280
X-32 Total net assets or fund balancesStart of year $44,363,489$44,690,977
X-33 Total liabilities and net assetsStart of year $52,973,169$53,692,609
Part XI · Reconciliation of net assets $44,690,977 net assets at year end
XI-1 Total revenue$19,906,511
XI-2 Total expenses$22,308,538
XI-3 Revenue less expenses−$2,402,027
XI-4 Net assets at start of year$44,363,489
XI-5 Net unrealized gains (losses) on investments$2,078,796
XI-9 Other changes in net assets$650,719
XI-10 Net assets at end of year$44,690,977

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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